When a nearby government base unveils a new invention called the Electro-Jammer, which has bizarre effects on electrical devices, two thieves attempt to steal it, but they lose it and are forced to hunt it down. Meanwhile, Pinky and Panky are saying goodbye to their dad as he goes off to Mexico, only for the Electro-Jammer to land inside Panky's diaper, leading to a wild goose chase when their dad remembers he left his passport at home.
While the Pink Panther is preparing for a film festival, Pinky and Panky help to prepare their house for the arrival of Cousin Punky. Meanwhile, an archaeologist had just discovered a prehistoric cat frozen in a block of ice, and through mishaps the prehistoric cat ends up getting defrosted and ends up at Pinky's clubhouse, who mistakes it for Cousin Punky. The prehistoric cat is unfamiliar with a modern city, and behaves much in the way of wild panthers.
During a "top secret" meeting, the other members of the Rainbow Panthers do not allow Panky in. Thinking they're kicking him out or ignoring him, he decides to join up with the Howls Angels. However his time with them is cut short as well when Finko demands more money for dues then Panky has, so Panky decides to go and find his own clubhouse and decides on a train caboose (a possible shot at The Getalong Gang). When he somehow jars its brakes loose and goes rolling off uncontrollably, Pinky saves him. Panky then learns they were planning his birthday party in that meeting, hence why he wasn't allowed in.